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Canadians Seeking Bargains on Black Friday and Cyber Monday to Help Stretch their Holiday Budget

With debit and cash preferred by many Canadians to pay for their $628
average gift list this year, CIBC offers options to clients looking to
pay by debit online or in the U.S.

TORONTO, Nov. 25, 2011 /CNW/ - A CIBC (TSX: CM) (NYSE: CM) Poll
conducted by Harris/Decima reveals Canadians are planning to spend, on
average, $628 on gifts this holiday season, and another $335 on other holiday expenses, including travel. For many Canadian
consumers the holiday shopping season effectively begins this weekend
as they look to take advantage of Black Friday and Cyber Monday sales
on both sides of the border, and online.

CIBC research released earlier this week shows Canadians are taking a
budget conscious approach to the holiday season, with 87 per cent planning to keep their holiday shopping expenses the same or lower
versus last year. The research also found that 65 per cent of Canadians are planning to pay with their debit card or cash for the
majority of their holiday shopping.

"Purchasing something on your holiday gift list at a discount can reduce
your overall holiday expenses, which fits with the budget conscious
approach we're seeing Canadians take this holiday season," said Colette
Delaney, Senior Vice President, Mortgage, Lending, Insurance and
Deposit Products, CIBC. "Getting a great deal online can save you the
cost and time involved with travelling across town or even across the
border looking for the best price."

However, Canadians preferring to use debit and cash this holiday season
may encounter obstacles when shopping south of the border, or find they
have limited options for online payment once they find a great price on
an item from their holiday gift list.

CIBC clients who prefer to pay by debit have the option of using the
CIBC Advantage Debit Card, which gives clients the added benefit of
paying by debit in-store and online with U.S. retailers as well as with
online merchants here in Canada, in addition to using their debit card
in-store at Canadians retailers.

"Paying by debit for their Black Friday or Cyber Monday purchases offers
Canadians the best of both worlds this holiday season, as they can save
money on a purchase they were already planning to make, and they can
pay by debit to help them stay on top of their holiday spending," added
Ms. Delaney. "Our CIBC Advantage Debit Card offers Canadians the option
to pay by debit when they find a money saving deal online."

While cash and debit combined were favoured by Canadians for holiday
spending, a number of Canadians will be using their credit card to pay
for the majority of their holiday shopping (31 per cent), which also offers Canadians the option to pay online. Most Canadians
planning to pay with credit also have a plan to quickly pay off their
holiday spending in full (76 per cent) while only 23 per cent of Canadians using credit said they will pay their balance off over
time.

"Having a plan that covers your holiday spending allows you to pay for
your purchases right away with cash or debit, or benefit from rewards
on your credit card knowing you have the funds to pay towards your
balance on your next statement," added Ms. Delaney.

To help manage holiday expenses, CIBC offers the following tips:

Use Debit if you prefer when Shopping Online or South of the Border: With the added benefit of Visa Debit, you can use the CIBC Advantage
Debit Card to shop in the U.S., internationally and at participating
online retailers where Visa cards are accepted. Plus as always, you
can use this same debit card to shop at stores in Canada where Interac Debit is accepted.

Stay on Top of Cash or Debit purchases: Canadians planning to use cash or debit can track their spending by
using the free CIBC Mobile Banking App on their smartphone. Having the
CIBC Mobile Banking App on your smartphone allows clients to check
their balance and see what they've spent so far that day, in just a few
seconds.

Have a Plan for Credit Card purchases: Canadians planning to use a credit card to pay for their holiday
expenses should make sure they have a plan to pay off their balance to
avoid incurring interest charges. With a plan in place, you can earn
rewards for your purchases that may save you money on other items, such
as discounts on gas purchases or cash back. For example, this year CIBC
estimates it will reward clients with $85 million in Dividend Dollars
on their December statements, up from $78 million in 2010. This
cash-back reward can be used to help off-set your holiday shopping, or
set aside for savings. Other options include the CIBC Petro-Points
MasterCard which allows Canadians to earn a discount of up to 7 cents
per litre on gas purchases.

Manage and Track Credit Card Spending: Managing cash flow effectively is a key element in sticking to your
holiday budget. Free services like CIBC CreditSmart can help Canadians
stick to their budget. Free to CIBC credit card holders, CIBC
CreditSmart allows clients to set a budget limit on each spending
category on their credit card, and be notified by phone, email or
online message when they exceed their customized budget.

KEY POLL FINDINGS

Average amount Canadians plan to spend on gifts this holiday season, by
region:

* where totals do not add to 100 per cent respondents were either
uncertain or did not select one of the options

*Each week, Harris/Decima interviews just over 1000 Canadians through
teleVox, the company's national telephone omnibus survey. These data
were gathered in a sample of 864 Canadians who know how much they will
spend over the holidays this year between November 3rd and 10th, 2011. A sample of this size has a margin of error of +/-3.3%, 19 times
out of 20.

CIBC is a leading North American financial institution with nearly 11
million personal banking and business clients. CIBC offers a full range
of products and services through its comprehensive electronic banking
network, branches and offices across Canada, and has offices in the
United States and around the world. You can find other news releases
and information about CIBC in our Press Centre on our corporate website
at www.cibc.com.